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Part 1 : There are six openings left in the always popular Intermediate Microeconomic Theory course being offered at Adam Smith College, and there are 10 students looking to add the course. The professor has decided to give the six spaces to the students who value the class most highly. He has asked students to submit bids showing the highest price they are willing to pay to be admitted to the course. Below, sort the students into the appropriate categories based on their bids. Remember, only six students can be accepted into the class. Items (10 items) (Drag and drop into the appropriate area below) Part 2 : If the professor acts as an ordinary monopolist and there are no costs incurred by adding students, what price would he set? $ ________

Part 1 : There are six openings left in the always popular Intermediate Microeconomic Theory course being offered at Adam Smith College, and there are 10 students looking to add the course. The professor has decided to give the six spaces to the students who value the class most highly. He has asked students to submit bids showing the highest price they are willing to pay to be admitted to the course. Below, sort the students into the appropriate categories based on their bids. Remember, only six students can be accepted into the class. Items (10 items) (Drag and drop into the appropriate area below) Part 2 : If the professor acts as an ordinary monopolist and there are no costs incurred by adding students, what price would he set? $ ________

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 31CTQ: If a government gains from unexpected inflation when it borrows, why would it choose to offer...
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Part 1 : There are six openings left in the always popular Intermediate Microeconomic Theory course being offered at Adam Smith College, and there are 10 students looking to add the course. The professor has decided to give the six spaces to the students who value the class most highly. He has asked students to submit bids showing the highest price they are willing to pay to be admitted to the course. Below, sort the students into the appropriate categories based on their bids. Remember, only six students can be accepted into the class. Items (10 items) (Drag and drop into the appropriate area below) Part 2 : If the professor acts as an ordinary monopolist and there are no costs incurred by adding students, what price would he set? $ ________
Categories Accepted into Class Waitlisted --------------. Florence $1,325 Edwin $750 Cassandra $1,500 Jennifer $675 Albert $1,100 Bethany $900 Danielle $1,200 Hansel $800 Gerry $1,050 Irene $990
Transcribed Image Text:Categories Accepted into Class Waitlisted --------------. Florence $1,325 Edwin $750 Cassandra $1,500 Jennifer $675 Albert $1,100 Bethany $900 Danielle $1,200 Hansel $800 Gerry $1,050 Irene $990
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